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* Annualized
**
Non-Annualized
^ The Internet Fund inception date is
10/21/96. Performance data quoted represents past performance and
does not guarantee future results. Figures include changes in
principal value, reinvested dividends and capital gains
distributions. Investment return and principal value will vary, and
shares may be worth more or less at redemption than original
purchase.
¹ One year, 3 year, 5 year, since inception, and historical total returns (where applicable) are without dividends reinvested.
Performance shown occurred
during periods of generally favorable market conditions for Internet
related stocks, which may or may not continue.
The Fund's Total Expense Ratio is
1.93%.
Due to market
volatility, current performance may be more or less than those shown
for standard quarter-end periods.
Because the Fund invests in
a single industry, its shares do not represent a complete investment
program. Internet stocks are subject to a rate of change in
technology, obsolescence and competition which is generally higher
than that of other industries, and have experienced extreme price
and volume fluctuations. As a non-diversified and single industry
fund, the value of its shares may fluctuate more than shares
invested in a broader range of industries and companies.
Kinetics Mutual Funds, unlike other
investment companies that directly acquire and manage their own
portfolios of securities, pursue their investment objectives by
investing all of their investable assets in a corresponding
portfolio series of Kinetics Portfolio Trust.
The NASDAQ Composite (NASDAQ) and the
Standard & Poor's 500 Index (S&P 500) each represent an
unmanaged, broad-based basket of stocks. They are typically used as
a proxy for overall market
performance.
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